Zurich partnered with a California-based InsurTech to reduce claims cost, boost efficiency and fight fraud. Encova Insurance will partner with an InsurTech and use its AI-enabled platform for text communication with customers.
Zurich is now working with California-based InsurTech Carpe Data in an effort to reduce claims costs, boost efficiency and fight fraud.
Carpe Data said its claims monitoring product ClaimsX helps Zurich leverage publicly available web data for real-time assessment and automated decision-making, from first notice of loss to settlement. Through ClaimsX’s highly predictive online content, Zurich proactively audits injury claimants and identifies cases where the claimant’s profile is at odds with the claim presented. This is designed to stop fraud in its tracks and also allow legitimate claims to be paid faster.
After a successful pilot in 2019, Zurich UK is now implementing ClaimsX widely in 2020.
Encova Insurance will partner with Hi Marley to use its AI-enabled platform for text communication with customers.
Headquartered in Columbus, Ohio, Encova Insurance provides commercial insurance, including workers compensation, as well as auto, home and life insurance. The insurance carrier has recently rebranded (it was formerly Moorists Insurance Group and BrickStreet Insurance) with a new promise toward innovation, paving the path in the insurance space by leveraging key technologies. Since piloting with Hi Marley, Encova said it has seen its average cycle time decrease by 46 percent.
Hi Marley is a software provider offering what it says is the first AI-enabled conversation platform specifically designed for the insurance industry. Hi Marley enables insurance carriers to easily and quickly communicate with customers and other partners in the insurance ecosystem so they can deliver an optimal customer experience.
Sources: Zurich, Encova Insurance